Category Archives: Mortgage

Financial Crimes Enforcement Targets Shell Companies Purchasing Luxury Properties

Geographic Targeting Orders expanded to include Honolulu, Hawaii  OnlineEd Blog (August 23, 2017) (WASHINGTON, Aug. 22, 2017/FinCEN) The Financial Crimes Enforcement Network (FinCEN) today announced the issuance of revised Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used to pay for high-end residential real estate in seven […]

Homeless Population Increases as Rents Rise

Portland and Seattle have declared states of emergency in response to the number of people experiencing homelessness By Jeff Sorg, OnlineEd Blog (PORTLAND, Aug. 3, 2017/Zillow®/) Rising rents urban areas are creating crisis levels of homelessness that will continue or accelerate as rents rise, Zillow® research has found. The connection between homelessness and increasing rents is especially strong […]

Environmental Series: Underground Storage Tanks for Heating Oil

An Underground Oil Tank Could be an Economic Liability for the Property Owner at the Time it is Discovered By Jeff Sorg, OnlineEd Blog (July 13, 2017) There are many problems associated with underground storage tanks (USTs) for heating fuel. In the past, heating oil tanks (HOTs) were installed underground, outside and above ground or above […]

Redfin Study: Middle-Class African-Americans and Hispanics Priced Out of Hot West Coast Markets

Fewer than five percent of homes for sale in Portland, Los Angeles, and Denver were affordable on median African-American and Hispanic incomes in 2016 By Jeff Sorg, OnlineEd Blog (June 30, 2017) In 2016, just 18 percent of homes for sale in the 30 largest U.S. metros were affordable for middle-class Hispanic families and 14 […]

For-Sale Homes Hitting the Market is Dropping at its Fastest Pace in Almost Four Years

The number of single-family home rentals has increased by 6.2 million since 2005, one of the reasons why inventory remains low By Jeff Sorg, OnlineEd Blog (June 26, 2017) Zillow® is reporting that the number of for-sale homes coming onto the market is dropping at its fastest pace in almost four years, according to their May […]

Redfin: May Housing Market Sets Records for Speed and Competition

More than a quarter of homes sold for more than their asking price By Jeff Sorg, OnlineEd Blog (June 15, 2017) SEATTLE–(BUSINESS WIRE)– U.S. home prices rose 6.8 percent to a median sale price of $288,000 in May, according to Redfin (www.redfin.com), the next-generation real estate brokerage. Home sales increased 7.5 percent over last year, […]

First-Ever Report to Track the Entire First-Time Homebuyer Market

Home sales to first-time homebuyers up 11% during First Quarter 2017 By Jeff Sorg, OnlineEd Blog (June 12, 2017) RICHMOND, VA., June 8, 2017 – Over the past 10 years, three million first-time homebuyers have been kept out of the home purchase market, according to Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. […]

Financial Freedom Agrees to $89 Million Settlement

Financial Freedom Settles Alleged Liability for Servicing of Federally Insured Reverse Mortgage Loans for $89 Million By Jeff Sorg, OnlineEd Blog (May 17, 2017) (US Dept. of Justice, May 16, 2017) – Financial Freedom has agreed to a settlement with the United States of more than $89 million to resolve allegations that it violated the […]

Summer is the Best Time to Buy

Most inventory and price cuts occur in August and September By Jeff Sorg, OnlineEd Blog (April 5, 2017) (SEATTLE, May 4, 2017) PRNewswire — Patience pays off for home buyers. The best time to buy a home is late summer when there are the most options and frequent price cuts. As summer approaches, overall inventory of […]

Zillow Group Launches RealEstate.com, Gives Millennial Buyers a New Way to Search

Buyers can search for homes by the monthly payment and down payment they can afford By Jeff Sorg, OnlineEd Blog (April 5, 2017) SEATTLE – May 2, 2017 – Zillow Group, which houses a portfolio of the largest and most vibrant real estate and home-related brands on mobile and web, today launches RealEstate.com, a new […]